One of the components needed to apply hotel revenue management is market segmentation. It allows you to target and market to a variety of consumer groups with different behavior with an offer that matches their needs and budget level.
How can you measure the results of your revenue management strategy? Which KPI’s or Key Performance Indicators should you use?
To apply revenue management in a hotel there are a few basic ingredients you will need. What are these basic requirements to be able to successfully yield and optimize revenue and profit of a hotel?